\begin{table}[!htbp] \centering
  \caption{Regression Results}
\begin{tabular}{@{\extracolsep{5.000pt}}lccccc}
\\[-1.800ex]\hline
\hline \\[-1.800ex]
& \multicolumn{5.000}{c}{\textit{Dependent variable: social welfare loss}} \
\cr \cline{2.000-6.000}
\\[-1.800ex] & \multicolumn{1.000}{c}{Model 1.000} & \multicolumn{1.000}{c}{Model 2.000} & \multicolumn{1.000}{c}{Model 3.000} & \multicolumn{1.000}{c}{Model 4.000} & \multicolumn{1.000}{c}{Model 5.000}  \\
\\[-1.800ex] & (1.000) & (2.000) & (3.000) & (4.000) & (5.000) \\
\hline \\[-1.800ex]
 const & 9,936.678$^{**}$ & 3,026,848.805$^{***}$ & 2,199.991$^{}$ & -21,266.759$^{}$ & -43,910.125$^{*}$ \\
& (4,153.658) & (1,019,848.301) & (5,481.103) & (31,681.464) & (23,082.264) \\
 gross social production value & -21.773$^{}$ & 99.739$^{}$ & -32.675$^{}$ & 0.805$^{}$ & -125.217$^{}$ \\
& (46.678) & (83.590) & (52.680) & (138.668) & (98.932) \\
 harvest limit & & & 0.092$^{***}$ & & \\
& & & (0.022) & & \\
 manager age & & & & 882.082$^{}$ & 347.616$^{}$ \\
& & & & (547.910) & (388.581) \\
 manager education level & & & & 397.397$^{}$ & 5,182.581$^{**}$ \\
& & & & (2,167.743) & (2,146.102) \\
 manager tenure experience & & & & -2,234.319$^{}$ & 1,333.437$^{}$ \\
& & & & (1,700.930) & (1,589.715) \\
 natural forest & 0.001$^{***}$ & & & & 0.001$^{**}$ \\
& (0.000) & & & & (0.000) \\
 population & 0.081$^{}$ & 0.019$^{}$ & 0.058$^{}$ & 0.103$^{}$ & 0.301$^{}$ \\
& (0.126) & (0.168) & (0.143) & (0.280) & (0.194) \\
 year & & -1,507.462$^{***}$ & & & \\
& & (510.411) & & & \\
\hline \\[-1.800ex]
 Observations & 22.000 & 31.000 & 31.000 & 24.000 & 15.000 \\
 $R^2.000$ & 0.519 & 0.301 & 0.437 & 0.167 & 0.731 \\
 Adjusted $R^2.000$ & 0.438 & 0.224 & 0.374 & -0.065 & 0.529 \\
 Residual Std. Error & 6,931.718 (df=18.000) & 10,319.468 (df=27.000) & 9,267.197 (df=27.000) & 12,815.948 (df=18.000) & 7,010.975 (df=8.000) \\
 F Statistic & 6.463$^{***}$ (df=3.000; 18.000) & 3.883$^{**}$ (df=3.000; 27.000) & 6.975$^{***}$ (df=3.000; 27.000) & 0.721$^{}$ (df=5.000; 18.000) & 3.617$^{**}$ (df=6.000; 8.000) \\
\hline
\hline \\[-1.800ex]
\textit{Note:} & \multicolumn{5.000}{r}{$^{*}$p$<$0.100; $^{**}$p$<$0.050; $^{***}$p$<$0.010} \\
\end{tabular}
\end{table}